Namoi Cotton's board recommends shareholders accept LDC's $138m 67c/share offer over Olam Agri's pending ACCC-approved bid.
Namoi Cotton's board has recommended shareholders accept Louis Dreyfus Company's $138 million offer of 67 cents per share, despite a higher bid from Olam Agri at 70 cents. Shareholders have until September 13 to respond. Olam's bid is pending approval from the Australian Competition and Consumer Commission (ACCC), which has raised concerns about market competition. An independent expert found the LDC offer to be fair and reasonable.
September 11, 2024
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